Yes and no. I'll agree that you can live in your car and save a lot of money that way. It's how I saved up have a 25% down payment on a new house when I was 25. If you're young and don't have a family, I highly advise living as cheap as possible and working more than one job to build up the bank account or investment account. But once you have a family and want a little stability, buying a house may not be a bad move because the payment typically becomes a smaller percentage of your income over time. If you can still afford the payment, it really doesn't matter what the value is to others as long as it's meeting your needs. It can actually become beneficial for tax purposes for the value to go down providing you buy and hold. I am totally against property tax for ones primary residence, and lean towards being against property tax all together